Power Finance Corporation Ltd. (PFC), a Maharatna CPSE and the leading NBFC in the power sector, has signed an MoU with the Government of Gujarat (GoG), in Gandhinagar on January 3, 2024. The chief objective of this MoU is to provide comprehensive financial backing for the state’s generation, transmission, and distribution projects.
The MoU has been signed by Parminder Chopra, CMD PFC and Jai Prakash Shivhare, MD (GUVNL) in the presence of Bhupendra Patel, Chief Minister of Gujarat; Rushikesh Patel, Minister of Health & Family Welfare, Higher & Technical Education, Law & Justice, Govt. of Gujarat; Raj Kumar Chief Secretary, Govt. of Gujarat; S. J. Haider, Additional Chief Secretary, Govt. of Gujarat; Mamta Verma, Principal Secretary (Energy & Petrochemicals Department); R. K. Chaturvedi, Executive Director (Projects), PFC and other Senior Officials of PFC, GUVNL and other power utilities.
The MoU, signed in Gandhinagar, marks a significant step towards bolstering various projects undertaken by Gujarat Urja Vikas Nigam Limited (GUVNL), Gujarat State Electricity Corporation Limited (GSECL), Gujarat Energy Transmission Corporation Ltd (GETCO), Dakshin Gujarat Vij Company Ltd (DGVCL), Madhya Gujarat Vij Company Ltd (MGVCL), Paschim Gujarat Vij Company Ltd (PGVCL), and Uttar Gujarat Vij Company Ltd (UGVCL). The collaboration is set to facilitate long-term debt and other critical funding necessities vital for executing these diverse projects. This strategic alliance is anticipated to usher in a new era of energy sustainability and efficiency in Gujarat.
